Some Good Reasons to Have Pet Insurance Cover

We’ve all heard good reasons over the years as to why people should have pet insurance, not least because of the lack of an animal NHS to pay for treatment. It is an area that receives a lot of attention and those that do have insurance are able to sleep a little easier knowing that their beloved animal can get the treatment he or she might need. read more »

Pet Insurance Can Help Cover Costs And Make Life Easier

It is regularly reported that pet insurance can cover the costs of veterinary treatment and that this can make life easier for the pet owner.

In fact, having pet insurance can make all of the difference in some cases, with daunting veterinary costs arising if the owner is not covered in case of an emergency or unforeseen circumstances.

MoneySupermarket.com points to figures released by the RSPCA to back up long held claims of pet insurance meaning life or death for pets in certain situations, drawing attention to results showing a rise in abandoned pets in 2008.

It cites owners struggling to cover the costs associated with veterinary bills as well as food costs which can cause pet owners to abandoning their pets, allowing them to spend money elsewhere.

However, it is not just the RSPCA and MoneySupermarket that are drawing attention to such claims. In December 2008 it was reported by the Times that the financial crisis was leading to an increase in stray dogs as pet owners struggled to make ends meet.

Prior to Christmas it claimed that Battersea Dogs and Cats Home was nearing full capacity for the first time in its history. It seemed that as budgets began to tighten, the most costly features of the household were first to be abandoned. This is now backed up by RSPCA results showing that a 57% rise in abandonment of pets took place in 2008 from the year before.

The Times argued that by taking out pet insurance policies, pet owners would not necessarily be faced with an inability to pay for unexpected veterinary bills.

The recent RSPCA results show that half of pets in the United Kingdom will be faced with veterinary treatment at some point in 2009 and as vets’ costs rise this is becoming worrisome. But not all pet insurance policies are out of people’s price ranges, so by shopping around and finding a policy that not only meets the needs, but also covers the areas required, pet owners will avoid certain unnecessary situations.

Pet insurance is offered by various providers, with varying levels of cover and costs, so owners should always read the small print.

Source: TimesOnline and MoneySupermarket

Sainsburys Finance Figures for 2009 showing increase in pet insurance claims

Sainsbury’s Finance has released figures for the first half of 2009, showing a surprisingly large amount of Pet Insurance claims between the period of January to July.

Around 200,000 insurance claims were made by UK pet owners for their cats or dogs during this period, with a total of £77 million paid out to cat or dog owners as a result.

For dogs, these payouts were largely to treat conditions such as skin tumours, lameness, vomiting, lacerations and gastroenteritis. These top five ailments accounted for almost £12 million worth of payouts.

On the other hand, cats are more likely to have suffered a road accident before a pet insurance claim has been made, the reports suggest, with 2,200 claims for such problems in the first 6 months of the year.

However the results, whilst suggesting that there are people out there with pet insurance who are more than willing to make a claim, show that only 26 % of pet owners have insurance.  It means that a further 74 % of pet owners are facing rising veterinary bills without pet insurance cover. If the condition is lameness, which received 7,730 claims earlier in the year, the average value of a claim was £602.56, which would have to be paid by the pet owner alone if no pet insurance is in place.

Speaking about the results, Lucy Hunter, Sainsbury’s Pet Insurance Manager commented, “Our research earlier in the year suggested that many people were looking to cut back on insurance cover generally and pet insurance in particular. However, these new findings from our pet insurance claims index, indicate just how valuable good quality cover can be.”

In total, around 420 different incidents were accounted for by the results, with 240 of them applying to dogs.

Hunter also commented: “The sheer volume of claims made should belie the idea that pet insurance is a luxury. With vet fees rising, the potential cost of treatment for those pet owners doing without cover is considerable and it’s a genuine concern that cats and dogs may be missing out on necessary treatment”.

Source: Sainsbury’s Finance Press Release (Nov 2009)